The banks are incapable of seeing all offers and reviewing them. They only want to see one. What you view as common sense is unrealistic. They dont understand what makes one better than the next and it is not always what you might consider the highest/best. It is very subjective and thus best left up to the seller to decide with the assistance of their agent. Ultimately the lender will choose whether that is good enough. Its not a perfect system but what in this world is.